- Follows the purchase of 5,000 TRIO readers in 2017
- This reader enables ‘365secure’ technology designed exclusively for 365 Retail Markets
ROSH PINNA, ISRAEL, January 16th, 2018 On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, announces today an additional order of 10,000 cashless readers from the US leader in Micro Market Technology, 365 Retail Markets. This comes after the successful delivery and installation of 5,000 advanced TRIO readers in 2017.
“We are very excited to offer the TRIO to our customers,” Says Ryan McWhirter, 365 Product Director. “The TRIO reader is one piece of our ‘365secure’ initiative and extends our best-in-class focus on security and innovation even further”.
OTI TRIO advanced credit card reader is a modular payment device in one small, stylish enclosure. The reader is specifically designed for installation in unattended markets to allow cashless payment with a magnetic swipe, and contactless payment devices (NFC).
“OTI is very pleased with its successful partnership with 365 Retail Markets in the MicroMarket kiosk channel.” Says Shlomi Cohen, OTI CEO, “We forecast a positive future in the coming years with them.”
On Track Innovations (OTI) is a global leader in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology with an extensive patent and IP portfolio. OTI’s field-proven innovations have been deployed around the world to address cashless payment and management requirements for the Internet of Payment Things (IoPT), wearables, automated retail and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. OTI is the proud recipient of the 2017 AI Award for Best Cashless Payment Solutions Provider – Israel. For more information, visit www.otiglobal.com.
About 365 Retail Markets
365 Retail Markets, a rapidly growing, self-checkout technology company with offices in Metro Detroit, Santa Clara, and Provo, offers the best-in-class point of sale platform for use in the workplace. Its proprietary, 365 MicroMarket, is a turnkey, unmanned market that allows customers to increase sales, improve the customer experience, and increase profits while decreasing operating costs. 365 Retail Markets has been pioneering innovation in the food service, hospitality, and vending industries since 2008, and continues to revolutionize the market with superior technology and ultimate flexibility in customization and branding. 365 has won many awards for their innovation and growth, including recently being named to the Inc. 5000 list of the fastest-growing private companies in the U.S.
For more information about 365 Retail Markets
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Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” “predict,” “likely,” “should,” “could,” “may,” “will” or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss our expectations regarding our growth or profitability, expected divestitures, plans for our existing and new products and services, penetration of new markets and securing new customers, Because such statements deal with future events and are based on OTI’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2016, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements.
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